{"id":7370,"date":"2017-12-05T22:44:28","date_gmt":"2017-12-05T22:44:28","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/picture-perfect-hoa-reserves\/"},"modified":"2017-12-05T22:44:28","modified_gmt":"2017-12-05T22:44:28","slug":"picture-perfect-hoa-reserves","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/picture-perfect-hoa-reserves\/","title":{"rendered":"Picture Perfect HOA Reserves"},"content":{"rendered":"

\n<\/p>\n

\n

A reserve study identifies a homeowner association’s future repairs and replacements like a snapshot in time. Imagine that you could picture the buildings and grounds as they would be in five, ten, even thirty years. A reserve study acts just like that by estimating the useful life of the common elements and the cost to replace them in the future based on current cost adjusted by inflation.
\n <\/p>\n

A reserve study uses a component inventory analysis of the HOA’s common elements having useful lives of between 2 and 30 years to project scheduling coupled with a funding<\/a> plan. Those components consist of the obvious, like roofing, painting<\/a>, paving, fencing and the not-so-obvious like treework, landscape renovation and inspections (elevator, fire sprinklers and alarms, tripping hazards).
\n \n<\/p>\n

Even the smallest HOAs have at least 15 items that should be included. Large HOAs can have hundreds. For a list, go to the Reserve Planning section of www.Regenesis.net.
\n \n<\/p>\n

Common elements deteriorate over time and as do the underlying assumptions of the reserve study. Reserve studies can be affected by new labor-saving techniques, building designs and materials that reduce projected costs or extend useful lives. As these changes take place, so should your reserve study.
\n \n<\/p>\n

Annual review and update of the reserve study confirm that the schedule and costs are still accurate. And it’s not always bad news that affects the review. Age, condition and rate of deterioration can be positively impacted by preventive maintenance implemented by the association which increases useful lives. Changes in area inflation and the actual interest earned from invested reserves need to be revised as well.
\n \n<\/p>\n

The good news is the annual review is a snap compared to the initial reserve study which requires significant field work to compile data.
\n \n<\/p>\n

Now that you’re focused on reserves, it’s time to load the film and start shooting. Snapshot by snapshot, the results will develop picture perfect.
\n \n<\/p>\n

For more innovative homeowner association management strategies, see www.Regenesis.net.<\/i>\n\t\t<\/p>\n<\/div>\n

Realtytimes <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A reserve study identifies a homeowner association’s future repairs and replacements like a snapshot in time. … Picture Perfect HOA Reserves<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7371,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[12908,543,818,219],"class_list":["post-7370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-real","tag-realty"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/5618c81beac0653838f7bc102b0a13f2_S.jpg?fit=424%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7541,"url":"https:\/\/amazingproperty.com.ng\/blog\/picture-perfect-reserves-in-your-hoa\/","url_meta":{"origin":7370,"position":0},"title":"Picture Perfect Reserves In Your HOA","author":"Amazing Property","date":"December 19, 2017","format":false,"excerpt":"A reserve study identifies a homeowner association's future repairs and replacements like a snapshot in time. Imagine that you could picture the buildings and grounds as they would be in five, ten, even thirty years. A reserve study acts just like that by estimating the useful life of the common\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Eacd8b957eb250611a5ec3220ea4aa6d S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/eacd8b957eb250611a5ec3220ea4aa6d_S.jpg?fit=424%2C261&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3839,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-homeowner-associations-future-forecast\/","url_meta":{"origin":7370,"position":1},"title":"The Homeowner Association's Future Forecast","author":"Amazing Property","date":"April 25, 2017","format":false,"excerpt":"Preparing for and overseeing a homeowner association's finances are perhaps the most important board responsibilities. It takes money and careful planning to maintain and preserve common area property. One of the best forecasting tools is a \"reserve study\" is needed to identify common element components, their useful lives and cost\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/72d91ec6d97b46c787354105bd7b0980_M.jpg?fit=300%2C225&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6650,"url":"https:\/\/amazingproperty.com.ng\/blog\/earmarking-reserves-in-your-hoa\/","url_meta":{"origin":7370,"position":2},"title":"Earmarking Reserves In Your HOA","author":"Amazing Property","date":"October 17, 2017","format":false,"excerpt":"Most homeowner associations are entrusted with substantial common elements which must be maintained, replaced or renewed. All of this costs a lot of money. Borrowing said money is a very bad idea because it comes at a very high price in the way of interest and fees which must be\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Ae0f9e45b263e35e925a47b9aee80394 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/ae0f9e45b263e35e925a47b9aee80394_S.jpg?fit=424%2C282&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8962,"url":"https:\/\/amazingproperty.com.ng\/blog\/ask-the-hoa-expert-hoa-know-how\/","url_meta":{"origin":7370,"position":3},"title":"Ask the HOA Expert: HOA Know How","author":"Amazing Property","date":"November 23, 2018","format":false,"excerpt":"When you purchase into a homeowner association (HOA), you automatically become a member and obligate yourself to financially support the operation and obey the rules. That said, few buyers take the time to examine the information to make an informed decision. Here are some of the basic Know Hows: HOA\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1b4f137023076ecbe8dc770985683993 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/11\/1b4f137023076ecbe8dc770985683993_S.jpg?fit=424%2C278&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7825,"url":"https:\/\/amazingproperty.com.ng\/blog\/hoa-reserve-conundrum\/","url_meta":{"origin":7370,"position":4},"title":"HOA Reserve Conundrum","author":"Amazing Property","date":"January 17, 2018","format":false,"excerpt":"A conundrum is a riddle or puzzle. Many homeowner associations established over 30 years ago now face the conundrum of replacing common elements they were not planning for nor have the money to pay for. 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